Year-on-year inflation in the OECD, as measured by the Consumer Price Index (CPI), increased from 5.8% in November to 6.0% in December 2023 , after three consecutive months of decreases. Increases were recorded in 14 OECD countries, while inflation declined in 21 countries and was stable in the remaining 3 countries. Inflation was below 10% in all countries except Türkiye. Inflation excluding food and energy (core inflation) was broadly stable in the OECD, at 6.7% in December.
In the Euro Area, year-on-year inflation as measured by the Harmonised Index of Consumer Prices (HICP) rose to 2.9% in December after falling for several months, mainly due to the slowdown in energy deflation.
Source:
OECD, 7 February 2024